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Weyerhaeuser Completes Sale of Assets to International Paper

Aug 4, 2008

FEDERAL WAY, Wash., August 4, 2008 Weyerhaeuser Company (NYSE: WY) today announced the completion of the sale of its Containerboard Packaging and Recycling business to International Paper (NYSE: IP) for $6 billion in cash.

Weyerhaeuser said it expects to use a substantial portion of the after-tax proceeds from the sale to pay down debt.

The transaction includes nine containerboard mills, 72 packaging locations, 10 specialty-packaging plants, four kraft bag and sack locations and 19 recycling facilities. (See list at end of release for locations.) Approximately 14,000 employees will transfer from Weyerhaeuser to IP as a result of the transaction.

“International Paper is gaining some of the best people and facilities in the world and our employees are joining a leader in this industry,” said Daniel S. Fulton, Weyerhaeuser president and chief executive officer. “At the same time, this transaction allows Weyerhaeuser to continue to refine its focus as a timber-based company with businesses that enhance the value of our timberlands.”

Weyerhaeuser Company, one of the world's largest forest products companies, was incorporated in 1900. In 2007, sales were $16.3 billion. It has offices or operations in 13 countries, with customers worldwide. Weyerhaeuser is principally engaged in the growing and harvesting of timber; the manufacture, distribution and sale of forest products; and real estate construction, development and related activities. Additional information about Weyerhaeuser's businesses, products and practices is available at http://www.weyerhaeuser.com.

Location List

Nine containerboard mills (6.3 million tons capacity)

Alabama: Pine Hill

California: Oxnard

Iowa: Cedar Rapids

Kentucky: Henderson

Louisiana: Campti

Oklahoma: Valliant

Oregon: Albany, Springfield

Mexico: Xalapa

72 packaging locations (99.4 billion square feet capacity)

Alabama:Huntsville

Arizona: Phoenix, Yuma

Arkansas: Fort Smith,Russellville

California: Anaheim, Camarillo, Compton, Elk Grove, Exeter, Modesto, Salinas, Sanger, Santa Paula

Colorado: Golden

Florida: Plant City, Tampa

Georgia: Columbus, Griffin, Lithonia

Illinois: Aurora, Bedford Park, Belleville, Lincoln, Montgomery, Rockford

Indiana: Butler, Indianapolis

Iowa: Cedar Rapids, Waterloo

Kansas: Kansas City

Kentucky: Bowling Green, Louisville

Michigan: Three Rivers, Warren

Minnesota: Austin, Fridley, St. Paul, White Bear Lake

Mississippi: Jackson, Magnolia, Olive Branch

Missouri: Maryland Heights, St. Joseph

Nebraska: Omaha

New Jersey: Barrington, Bellmawr

New York: Rochester

North Carolina: Charlotte, Lumberton, Newton

Ohio: Delaware, Eaton, Mount Vernon

Oklahoma: Oklahoma City

Oregon: Beaverton, Portland

Tennessee: Cleveland

Texas: Amarillo, Dallas, McAllen, Sealy

Virginia: Lynchburg

Washington: Bellevue, Moses Lake, Olympia, Yakima

Wisconsin: Manitowoc

Mexico: Ixtac, Mexico City, Monterrey, Silao

10 specialty packaging plants

California: Cypress

Georgia: Tucker

Illinois: Aurora

Indiana: Indianapolis

Kentucky: Richwood

North Carolina: Charlotte

Ohio: Delaware

Oregon: Beaverton, Hillsboro, Salem

Four kraft bag and sack locations (199,000 tons capacity)

California: Buena Park

North Carolina: Charlotte

Oregon: Beaverton

Texas: Dallas

19 recycling facilities

Arizona: Phoenix

California: Fremont, Los Angeles/Norwalk, West Sacramento

Colorado: Denver

Illinois: Chicago/Itasca

Iowa: Des Moines

Kansas: Wichita

Maryland: Baltimore

Minnesota: New Brighton

Nebraska: Omaha

North Carolina: Charlotte

Oregon: Beaverton, Eugene

Tennessee: Memphis

Texas: Carrollton

Utah: Salt Lake City

Virginia: Richmond

Washington: Kent

 

More Information: Contact Us

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